After introducing its electric passenger three-wheeler, TVS Motor is poised to join the electric cargo vehicle scene the end of this financial year. Manufacturing these vehicles in Tamil Nadu, the company—which now holds a 10% market share in the three-wheeler alternative fuel sector—imports battery cells from Korea.
Leading two- and three-wheeler player TVS Motor is intending to enter the electric cargo vehicle market, an official said on Monday. Launching its electric three-wheeler passenger vehicle in the eastern metropolis during the day, the company intends to introduce the cargo model during the October-December quarter of the next financial year (FY 2025-26).
“We debuted the electric three-wheeler in Kolkata in passenger capacity with UP, Bihar, J&K, and Delhi. “That is, the end of the current calendar year,” TVS Motor’s business head, commercial mobility, Rajat Gupta, said, aiming to enter the electric cargo three-wheeler category during the December quarter of the next financial year. He claimed that three-wheeler segment use of electric vehicles is rising.
“The market share of TVS in the three-wheeler alternate fuel segment (CNG, LPG and electric) is at ten percent at the moment and is growing,” Gupta remarked. He added the company has “scalable” capacity and produces three-wheelers at its Hosur facility in Tamil Nadu with a 5,000 monthly capacity. According to the corporation, an Indian partner produces the batteries from cells imported from Korea. three-wheelers